Know What The Bank Wants

Ultimately, to negotiate successfully with a lender to modify a loan, a borrower needs to understand how banks see the world. Typically, banks have the following three goals when dealing with loan issues:

Keep the loan in “performing” status.

Continue receiving a “market” rate of interest on the loan.

Have a realistic exit strategy for full repayment of the loan.

The bank will measure any proposal to modify loan terms against these three goals.—utahbusiness.com